5. Deeming of loan and interest under }buy back~ contracts

    In the case of a pawnbroker receiving goods under a contract for sale where the seller has a right to buy back the goods, then for the purposes of this Act

    (a) the price at which the goods are to be sold under the contract is to be taken to be the amount lent; and

    (b) the difference between the amount lent and the price at which the goods may be bought back is to be taken to be the interest payable.



Note: This is not an authorised version. The only authorised version is the hardcopy (printed) version published under authority of the Government Printer, available from the State Law Publisher, 10 William St Perth W.A. 6000.